1.08 -0.15%
  • BTC
    27365.73 2.15%
  • ETH
    1859.58 2.38%
  • SOL
    19.9 2.36%
  • ADA
    0.37 1.09%
  • AVAX
    14.85 1.09%
  • DOT
    5.4 1.77%
  • LTC
    92.43 1.8%
  • BCH
    116.46 1.4%
  • CRO
    0.06 0.65%
    0.88 1.7%
  • LINK
    6.58 0.7%
  • XLM
    0.09 0.58%
  • UNI
    5.14 1.28%
  • SHIB
    0 1.02%

Bitcoin medium-term analysis: Is local bottom near?

Looking at Bitcoin through technical analysis, the local bottom might be near. However, the current recession could draw Bitcoin even lower.

Where’s the Bitcoin bottom? This is a billion-dollar question that many investors ask themselves. Several indicators point to a possible bottom soon, so let’s find out where that might be through a multi-timeframe analysis.

Bitcoin analysis – monthly

Let’s start with a monthly timeframe to get the best perspective of where Bitcoin might go in the future. This chart clearly shows the potential bottom area. It’s a little below the all-time high (ATH) level from 2017, between $14,000 and $20,000. As Fed is expected to raise interest rates even more, a new low could be created in the next few months.

Related article: How will Bitcoin surprise us this time?

However, if Bitcoin goes below $14,000, it could mean a serious threat to the whole crypto industry. The two last most significant bear markets took place in 2014 and 2018. Both times, Bitcoin fell by approximately 80% and the price decline lasted about a year. 

Do you want to know more?

This article has a lot more to offer. Having an Investro registration allows you to read without any limitations. It's FREE and will only take few seconds.

Join us

Have you already registered? Sign in.

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...


Post has no comment yet.

Want add your comment? Sign up or Sign in